Lifetime Brands (NASDAQ:LCUT) Given New $6.00 Price Target at DA Davidson

Lifetime Brands (NASDAQ:LCUT) had its price objective reduced by DA Davidson from $6.75 to $6.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price target suggests a potential upside of 4.44% from the company’s previous close.

Separately, StockNews.com upgraded shares of Lifetime Brands from a “hold” rating to a “buy” rating in a report on Tuesday.

Lifetime Brands Price Performance

Shares of NASDAQ LCUT traded up $0.15 during mid-day trading on Thursday, reaching $5.75. The company had a trading volume of 29,732 shares, compared to its average volume of 65,927. The business’s 50-day simple moving average is $5.44 and its 200 day simple moving average is $5.90. Lifetime Brands has a one year low of $4.70 and a one year high of $11.68. The firm has a market cap of $127.29 million, a price-to-earnings ratio of -5.80, a PEG ratio of 0.48 and a beta of 1.35. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.97 and a current ratio of 2.36.

Lifetime Brands (NASDAQ:LCUT) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. Lifetime Brands had a positive return on equity of 3.13% and a negative net margin of 3.19%. The business had revenue of $215.21 million during the quarter, compared to the consensus estimate of $206.60 million. On average, research analysts predict that Lifetime Brands will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lifetime Brands

Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in Lifetime Brands during the 3rd quarter worth about $67,000. Geode Capital Management LLC increased its holdings in Lifetime Brands by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 294,291 shares of the company’s stock worth $1,925,000 after purchasing an additional 11,118 shares during the period. Barclays PLC increased its holdings in Lifetime Brands by 38.7% during the 3rd quarter. Barclays PLC now owns 19,016 shares of the company’s stock worth $124,000 after purchasing an additional 5,302 shares during the period. JB Capital Partners LP increased its holdings in Lifetime Brands by 13.0% during the 3rd quarter. JB Capital Partners LP now owns 940,814 shares of the company’s stock worth $6,106,000 after purchasing an additional 108,193 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Lifetime Brands by 657.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 18,096 shares of the company’s stock worth $118,000 after purchasing an additional 15,708 shares during the period. Institutional investors and hedge funds own 40.62% of the company’s stock.

About Lifetime Brands

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the worldwide. The company provides kitchenware products, including kitchen tools and gadgets, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantryware, spice racks, and bakeware; and tableware products comprising dinnerware, stemware, flatware, and giftware.